Fanhua Announces Headquarter Office Relocation
Fanhua Inc. (Nasdaq: FANH) has announced the relocation of its headquarters from the 27th to the 60th floor of Pearl River Tower in Guangzhou, effective January 17, 2022. This move consolidates its operations within the same building. Fanhua provides a wide array of financial services, including insurance products and claims adjusting services, through its online and offline networks. As of September 30, 2021, it operated 750 sales outlets across 23 provinces in China. The company continues to face challenges in maintaining agent productivity and adapting to regulatory changes.
- Relocation of headquarters to a larger space may enhance operational efficiency.
- Continued offering of diverse financial products and services.
- Challenges in attracting and retaining productive agents.
- Uncertainties regarding regulatory changes in the Chinese insurance industry.
GUANGZHOU, China, Jan. 17, 2022 (GLOBE NEWSWIRE) -- Fanhua Inc. (“Fanhua” or “the Company”) (Nasdaq: FANH), a leading independent financial services provider in China, today announced the relocation of its headquarter office from 27th Floor, Pearl River Tower, No. 15 West Zhujiang Road, Guangzhou, Guangdong, 510626, P. R. China to 60th floor of the same building, effective on January 17, 2022.
Contact details of the new office are as below:
60F, Pearl River Tower, No. 15 West Zhujiang Road, Guangzhou, Guangdong, 510626, P. R. China
Tel: 86-020-83886888
Fax: 86-020-83882232
About Fanhua Inc.
Fanhua Inc. is a leading independent financial services provider. Through our online platforms and offline sales and service network, we offer a wide variety of financial products and services to individuals, including life and property and casualty insurance products. We also provide insurance claims adjusting services, such as damage assessments, surveys, authentications and loss estimations, as well as value-added services, such as emergency vehicle roadside assistance.
Our online platforms include: (1) Lan Zhanggui, an all-in-one platform which allows our agents to access and purchase a wide variety of insurance products, including life insurance, auto insurance, accident insurance, travel insurance and standard health insurance products from multiple insurance companies on their mobile devices; (2) Baowang (www.baoxian.com), an online entry portal for comparing and purchasing health, accident, travel and homeowner insurance products and (3) eHuzhu (www.ehuzhu.com), a non-profit online mutual aid platform in China.
As of September 30, 2021, our distribution and service network is consisted of 750 sales outlets covering 23 provinces and 110 service outlets covering 31 provinces.
For more information about Fanhua Inc., please visit http://ir.fanhuaholdings.com/.
Forward-looking Statements
This press release contains statements of a forward-looking nature. These statements, including the statements relating to the Company’s future financial and operating results, are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. Among other things, management's quotations and the Business Outlook section contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Fanhua and the industry. Potential risks and uncertainties include, but are not limited to, those relating to its ability to attract and retain productive agents, especially entrepreneurial agents, its ability to maintain existing and develop new business relationships with insurance companies, its ability to execute its growth strategy, its ability to adapt to the evolving regulatory environment in the Chinese insurance industry, its ability to compete effectively against its competitors, quarterly variations in its operating results caused by factors beyond its control and macroeconomic conditions in China, future development of COVID-19 outbreak and their potential impact on the sales of insurance products. All information provided in this press release is as of the date hereof, and Fanhua undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although Fanhua believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by Fanhua is included in Fanhua's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F.
FAQ
What is the new address for Fanhua Inc. headquarters?
When did Fanhua Inc. relocate its headquarters?
What services does Fanhua Inc. provide?
What challenges does Fanhua Inc. face?
